The program testing phase is scheduled for December and the official system launch is scheduled for January 2019.
According to Yonhap, the ministries are planning to use the distributed ledger technology (DLT) “to track beef through the supply chain to provide consumers with information about the source of their food.” The report also states:
The use of blockchain technology to trace agricultural products is one of the world’s common implementations. In August, the largest exporter of grain in Australia, the CBH Group, partnered with a local start – up to use blockchain technology to track oat shipments.
Last month, Archer Daniels Midland Co., Bunge Ltd., Cargill Inc., and Louis Dreyfus Co., commonly known as ABCD, agreed to use blockchain and artificial intelligence (AI) technologies to reduce costs and make trade more efficient and transparent.